Gulf International Bank UK Ltd Has $2.43 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Gulf International Bank UK Ltd lessened its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 4.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 32,276 shares of the technology company’s stock after selling 1,467 shares during the quarter. Gulf International Bank UK Ltd’s holdings in CoStar Group were worth $2,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of CoStar Group by 22.6% during the third quarter. QRG Capital Management Inc. now owns 22,945 shares of the technology company’s stock worth $1,731,000 after acquiring an additional 4,235 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of CoStar Group by 12.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 282,828 shares of the technology company’s stock worth $21,337,000 after purchasing an additional 32,302 shares in the last quarter. National Pension Service lifted its holdings in shares of CoStar Group by 0.7% during the 3rd quarter. National Pension Service now owns 1,020,943 shares of the technology company’s stock valued at $77,020,000 after buying an additional 6,826 shares during the last quarter. Cortland Associates Inc. MO bought a new stake in shares of CoStar Group in the 3rd quarter valued at approximately $14,535,000. Finally, Van ECK Associates Corp increased its holdings in CoStar Group by 1.4% in the third quarter. Van ECK Associates Corp now owns 72,346 shares of the technology company’s stock worth $5,268,000 after buying an additional 993 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance bought 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by insiders.

Analysts Set New Price Targets

CSGP has been the subject of a number of analyst reports. Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Bank of America lowered their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. reduced their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Finally, The Goldman Sachs Group reduced their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Price Performance

NASDAQ:CSGP opened at $74.87 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock has a market cap of $30.69 billion, a P/E ratio of 170.16 and a beta of 0.82. The company has a fifty day moving average price of $76.07 and a 200 day moving average price of $78.13. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.